First Quantum to invest $5.25 billion in Argentina copper
First Quantum Minerals plans a $5.25 billion investment for its Taca-Taca copper project. The site is expected to create 6,000 new jobs across Argentina.
The government of Argentina has confirmed that the Taca-Taca copper project, spearheaded by First Quantum Minerals Ltd., involves a total estimated investment of $5.25 billion. Foreign Minister Pablo Quirno announced the capital commitment on social media on Monday, following a meeting with the company's CEO, Tristan Pascall.
The large-scale mining project is expected to be a significant driver of regional employment. According to Quirno, the development will generate approximately 4,000 jobs during the construction phase and an additional 2,000 positions once the mine is fully operational. Currently, the Canada-based mining firm is preparing to apply for the Incentive Regime for Large Investments (RIGI), a government program providing tax and regulatory incentives to attract major foreign investments into the country's industrial and mining sectors.
